2019 North Carolina Housing And Real Estate Market Predictions

North Carolina, sometimes called the Tar Heel state or the Old North State, is the U.S.’s 12th state and was admitted to the nation in the year 1789. North Carolina is the 28th largest state and the 9th most populous.

North Carolina rests right on the Atlantic Ocean, and a large part of the climate of the state is coastal. The remainder is made up of mountains and highlands. Because of the diversity of terrain North Carolina offers, the state has some incredible recreation opportunities including skiing, freshwater and saltwater fishing, birdwatching, ATV trails, ballooning, rock climbing, biking, hiking, camping and more.

North Carolina is home to Metropolitan cities as well as rural areas.

Unemployment in North Carolina is slightly higher than the national unemployment rate, but this slight difference has not been shown to have a significant effect on the North Carolina housing market. The unemployment rate statewide is at 4.5 percent and has been since October of 2017.

What 2019 Holds for the North Carolina Housing Market

North Carolina is one of few states that still have a fairly low median sales price. The median sales price of a home in North Carolina is about $163,000, very near the national average. The market is so available that over 63 percent of residents own their homes versus renting.

Home values in North Carolina have appreciated nearly 6 percent over the past 12 months and were exactly on par with the remainder of the nation’s home value appreciation. In the last two years, the average appreciation of home values in the North Carolina housing market almost doubled the national average. Since the fourth quarter of 2015, home values in North Carolina appreciated 12.05 percent on average – the national average was 5.86 percent.

Home values are driven by rising demand and shortage of for-sale inventory in the North Carolina housing market.

North Carolina’s unemployment is expected to overcome its distance behind the national average in 2019. A North Carolina real estate expert stated in an investment forecast that an employment gain of 2.7 percent will add 25,000 workers to payrolls in 2019 – greatly ahead of the national rate.

Key Contributing Factors to the 2019 North Carolina Housing Market

Home values have appreciated over 6 percent since this time last year and are expected to continue to rise – investment appreciation is inevitable

Home are quite affordable in the state but will not remain that way through the end of the year

The federal interest rate will likely reach 5 percent in 2019, so the sooner you purchase, the less-likely you are to have a higher home loan interest rate

Mass relocation to North Carolina will continue to strengthen and diversify the state’s housing market.

Best Places to Live in North Carolina

Morrisville, NC has been rated the number one place to live in North Carolina by sourcing resident reviews, public records, and various other available statistics.

Morrisville is a suburb of Raleigh that is home to over 20,000 residents. The community has received an “A” ranking because of its public school system, housing market, family-friendliness, jobs, diversity, and health and fitness.

Home values in Morrisville are higher than they are in other markets in the state, but residents make near $100,000 annually on average. The median home value in Morrisville is still low considering its proximity to Raleigh at only $291,000. Renting versus owning is split nearly 50/50 in the suburb of Morrisville.

Morrisville has been named by Niche.com the #1 Place for Millennials in North Carolina, #1 Best Place to Live in North Carolina, and the #1 Best Place to Raise a Family in North Carolina.

Another fantastic, more affordable, place to live in North Carolina is Stokesdale, NC. Stokesdale is quite a bit smaller than Morrisville but has a lot to offer.

Morrisville has received an “A” rating for its public schools, housing, family-friendliness, cost of living, and job availability.

The small suburban town is home to a little over 5,000 residents. The median home value in the town is $198,300, which is especially reasonable considering that an average Stokesdale resident earns $94,000.

The town is rather diverse and over 40 percent of residents have either a bachelor’s or master’s degree.

Stokesdale has been named, also by Niche.com, the #2 Best Place to Buy a House in North Carolina, #20 Place with Lowest Cost of Living in North Carolina, and the #21 Best Place to Raise a Family in North Carolina.

The North Carolina Housing Market Has Something for Everyone

Whether you are looking to live in an amenity-rich metropolitan suburb, a beautiful and secluded mountain getaway, or a friendly rural community, the North Carolina housing market has something to offer. The reasonable home values are rising and may soon outpace the rest of the nation. If you are thinking of investing in the North Carolina housing market, now may be your best opportunity.